Tuesday, 15 September 2026
Real estate developer Vastint is preparing a large real estate project on the site of the former Dîmbovița shoe factory in Bucharest. The project also includes the company’s first hotel in Romania, which will be operated internationally and will have 4 stars, with over 120 rooms. The company is also analyzing the option of including apartments.
Vastint began the demolition process of the former Dîmbovița shoe factory last year. The investor has accumulated, through multiple transactions, several plots of land with a total area of almost 2 hectares. The transactions were carried out at a cumulative value of approximately EUR 22 million.
“Until the moment we bought Dîmbovița, we were firmly convinced that we would build the hotel at Timpuri Noi Square, with all the technical constraints involved. In the second phase of Timpuri Noi Square, 3 buildings were considered. We reconfigured the tower, we gave up the hotel, the building altogether, and we created the same volume in two buildings. This was after we realized that why bother? Technically we could also build that building, that we could find a solution that would be independent, but would generate a different kind of traffic. But, we said that since we bought Dîmbovița, let’s think about it there and go in this direction. So the concept and analysis on that land is in this direction, to include the hotel,” said Antoniu Panait, Managing Director of Vastint Romania.
Source: Profit.ro
